Solve the problem.
-In 1994 Bethany put $740 down on a new Jeep. She made 55 payments of $204 and spent $613 in maintenance and repairs. Four years after paying off the car she sells it for $4220. What is her net? Is it profit or loss?
A) $8353, profit
B) -$8353, loss
C) $2608, loss
D) -$8353, profit

Question

Quizplus · Accepted Answer

Bethany's total cost includes the down payment, the payments made, and maintenance costs: $740 + (55 * $204) + $613 = $740 + $11220 + $613 = $12573. Selling the car for $4220 results in a loss of $12573 - $4220 = $8353.

Solve the Problem. -In 1994 Bethany Put $740 Down on a New Jeep